Market Climbs, Bitcoin Close to $100k | Live Stock

Kevin Travers joined discussion · Nov 23, 2024 00:06

Market Climbs, Bitcoin Close to $100k | Live Stock

Good morning, traders. Happy Friday, November 22nd. Without the news and animal spirits moving markets, you will not make it through today. My name is Kevin Travers, and the S&P 500 and market climbed this morning, here is what's moving:

$Super Micro Computer (SMCI.US)$ climbed 15%, after earlier this week, the firm said it submitted a plan to release its six-month delayed 10k with a new auditor, BDO USA, and filed for a time extension to file its report with the Nasdaq exchange. It was the highest advancing stock on the S&P 500.

In second place, $Copart (CPRT.US)$ climbed 8% after reporting Q1 earnings that showed its service segment pulled in more than analysts had expected. The car auction website reported revenue jumped 12% in the quarter to $1.14B and a profit of $362.1M.

Leading the $Russell 2000 Index (.RUT.US)$, $Replimune (REPL.US)$ climbed a whopping 44% after the pharma company submitted a treatment for Melanoma to the FDA for an 'Accelerated Approval Pathway."

Within industries tracked by moomoo, department store giants climbed, led by a 6% jump in $Macy's (M.US)$. The firm was in the news Friday morning in a Barron's article written by Jacob Sonenshine, who wrote the firm may be a target for M&A action under a more accepting deal environment under the Trump Administration. The firm is due to report earnings next week, November 26th.

$Crude Oil Futures(APR5) (CLmain.US)$ climbed above 70 finally, in a risk premium increase MT Newswires attributed to recent missile barrages and escalation in the Russian-Ukraine war.

$Bitcoin (BTC.CC)$ broke another all-time high, at 99,500 this morning. Gold and silver climbed, $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ climbed and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ fell.

The market overall advanced Friday. Just past 11 am ET the $S&P 500 Index (.SPX.US)$ traded +0.36%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.68%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.14%.

In macroeconomics, S&P Global released its composite and service PMI. Composite came in at a two-year high, 55.3. Services also came in at a high not seen since March 2022, 57, showing input prices are higher for purchasing managers across the country. Manufacturing PMI inputs did not change much, coming in at 48.8, lower thanin September.

Michigan consumer sentiment was lower than last month, while one-year inflation expectations matched last month's 2.6%.

Yesterday, users talked about stocks they were watching, like healthcare, falling food giant stock p[rices, and of course bitcoin and bitcoin-related companies.

Traders, what do you think? What you watching on the stock market today? What is the herd following? Let me know in the comments below!

Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!

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